Legal & General Property appoints Andrew Ferguson as Fund Manager for the Leisure Fund

Legal & General Property (“LGP” / “the Company”) announces that it has secured the appointment of Andrew Ferguson as Fund Manager for its £210 million Leisure Fund Limited Partnership.

 Holding a total of 10 years property experience in the leisure and retail sectors, Andrew joins from Citygrove Securities, where he held the position of Associate Development Director, responsible for new leisure and retail investments and developments.  Andrew worked at Citygrove for five years, where he was involved in several leisure and retail developments on behalf of fund clients including St Peters Wharf, Maidstone on behalf of CBRE Investors, Bishops Court Retail Park, Exeter on behalf of Close Investments and more recently a 150,000 sq ft pre-let leisure/food store scheme in Aldershot town centre.

 Structured as a Jersey Property Unit Trust (“PUT”) and operated by LGP, the Leisure Fund Limited Partnership was formed in 2002 and holds seven prime leisure assets across the UK, including Millennium Leisure Park in Greenwich, London, The Leisure Exchange in Bradford, Aspects Leisure Park, just outside of Bristol, and Valley Centertainment in Sheffield.  Over the past five years the fund has delivered top quartile performance against the IPD Pooled Property Fund Index.

 Mike Barrie, Director of Balanced Funds at Legal & General Property, comments:

“This appointment demonstrates our ongoing commitment to recruit additional talent into the business at all levels, to strengthen our internal expertise in order to capitalise on the market upturn and extend our existing capabilities on behalf of our clients.  Andrew’s appointment follows a number of other recent hires from property companies, including Mark Russell from Prestbury, as Fund Manager for the Managed Fund, and Simon Russian from Wilson Bowden as Senior Fund Manager, Retail Development. We look forward to making additional announcements shortly.”